Convert both mixed numbers to improper fractions with a common denominator, then subtract.<br><br>
&bull; \(4\frac{1}{3} = \frac{13}{3} = \frac{26}{6}\)<br>
&bull; \(2\frac{1}{2} = \frac{5}{2} = \frac{15}{6}\)<br>
&bull; \(\frac{26}{6} - \frac{15}{6} = \frac{11}{6}\)<br>
&bull; \(\frac{11}{6} = 1\frac{5}{6}\)<br><br>
Final Answer: \(1\frac{5}{6}\)